Analysis of wave counting:
After reaching the level of 1.1440, the pair EUR / USD started the expected decline, losing about 60 percentage points in the second half of Friday's trading. Thus it is possible to assume that having completed the 2nd wave in the future (C), the currency pair goes into the stage of formation of the 3rd wave in (C). If this is so, then the already-indicated downward movement may be further developed in the direction of the level of 1,1200. At the same time, it is still possible for the quotes to resume rising to the level of the 15th figure and, as a consequence, to further complicate the internal wave structure of the waves c, c, c, e, c (B).
Objectives for a downward wave option:
1,1291 - 100.0% by Fibonacci
1,1184 - 76.4% by Fibonacci
Objectives for an upward wave option:
1,1414 - 127.2% by Fibonacci
1,1500
General conclusions and trading recommendations:
The currency pair supposedly completed the construction of the wave (B), which took a rather complicated form. Now it is possible to lower the quotations within the first waves in the future wave (C) with targets located near the calculated marks of 1.1291 and 1.1184, which equates to 100.0% and 76.4% of Fibonacci. Wave E and (B) can still become more complicated, and the increase in quotations will resume with targets of about 15 figures and higher.
